Wärtsilä spurns Rolls-Royce overtures

JANUARY 9 2014 — Wärtsilä Corporation has apparently rebuffed a takeover attempt by Rolls-Royce, at least for now.

In a statement today the company said:

"Wärtsilä Corporation notes the recent speculation about a potential transaction between Rolls-Royce Plc and Wärtsilä.

"We confirm the approach by Rolls-Royce with a preliminary proposal for a possible offer for the company. In case the company receives such proposals, the Wärtsilä Board has an obligation to evaluate such proposals.

"However, we confirm that there are no longer ongoing discussions with Rolls-Royce."

Rolls-Royce said:

"Rolls-Royce notes the recent press speculation and confirms that it has been in preliminary discussions with the Board of Wärtsilä regarding a possible offer for the company. However, those discussions are no longer continuing."